March 27, 2019: Seminar for Asset Managers 8 Credits and 40% discount for VSV-ASG member Click here for more information.
The CC Security Analysis together with the Institute of Accounting, Control and Auditing and the School of Finance is proud to present to the
Stephen H. Penman
(Columbia Business School)
Link: https://www8.gsb.columbia.edu/cbs-directory/detail/495011/Stephen Penman
As speaker in joint ACCOUNTING & FINANCE RESEARCH SEMINAR
“An Accounting-based Asset Pricing Model and a Fundamental Factor”
The seminar will take place on
Tuesday, October 29, 2019, 12:15-1:15 pm
in room 09-114.
Our guest speaker’s research focusses on the valuation of equity, the role of accounting information in security analysis, and accounting policy issues. He has published widely in finance and accounting journals and currently serves as an editor of the Review of Accounting Studies.
"The work of a financial analyst falls somewhere in the middle between that of a mathematician and of an orator." - Benjamin Graham, The Intelligent Investor
The CC Security Analysis aims at providing
- Practice-oriented solutions for the analysis of Profitability, Growth and Risk
- Independent Research and Teaching in the area of
- Fundamental Analysis, Corporate Finance and Security Valuation
- Risk Management, Performance Management and Analysis of Risk and Return
- Financial Reporting, Regulation and Standard Setting
Cooperation with SIX
Press Release November, 23 2018
Mission Statement
Bridging Systemic and Idiosyncratic Risk Analysis through the integration of Fundamental Risk Analysis as well as Behavioral Aspects into Quantitative Risk Analysis.
Foster critical reflection of investing and trading is not a “natural science”, it is driven by market dynamics, crowd behavior and fundamentals.
Seminars
Please visit the HSG Trading Room webpage for information on offered Executive Seminars.
Selected Articles in the field of Security Analysis:
- Akbas, Jiang, Koch - 2017 - The Trend in Firm Profitability and the Cross-Section of Stock Returns
- Kok, Ribando, Sloan - 2017 - Facts about Formulaic Value Investing
- Ahmed, Safdar - 2017 - Evidence on the Presence of Representativeness Bias in Investor Interpretation of Consistency in Sales Growth
- Fama, French - 2017 - International tests of a five-factor asset pricing model
- Penman - 2016 - Design of Financial Statements
- Penman, Reggiani - 2013 - Returns to buying earnings and book value accounting for growth and risk
- Soliman - 2008 - The use of DuPont Analysis by market participants
- Ohlson, Juettner-Nauroth - 2005 - Expected EPS and EPS growth as determinants of value
- Fairfield, Yohn - 2001 - Using asset turnover and profit margin
- Beneish - 1999 - The detection of earnings manipulation.pdf
- Ohlson - 1995 - Earnings, book values, and dividends in equity valuation
Selected Publications of the CC Security Analysis
On Saturday, May 12, 2018 MBF students presented their case studies of the lecture in Applied Corporate Valuation to corporates in St. Gallen. The course, taught by Prof. Dr. Robert Gutsche and Dr. Michael Kramer, focuses on practical application and integration of corporate finance, valuation and accounting concepts to valuing companies, strategies, corporate assets, corporate debt or equity.
Many thanks to Johannes Post, Panagiotis ("Takis") Spiliopoulos, Tobias Mock, Florian Deglmann, Marcel Beverungen, Patrice Schuetz, Tobias Fuchs, and Sven Baumeister for your valuable insights.
Robert Gutsche, Markus Buchner, Alexandru Rif
EAA Annual Congress 2018, Paper Presentation, Bocconi University, Milan:
EAA Annual Congress 2018, Paper Presentation, Bocconi University, Milan:
EAA Annual Congress 2018, Paper Presentation, Bocconi University, Milan:
EAA Annual Congress 2018, Paper Presentation, Bocconi University, Milan:
EAA Annual Congress 2018, Paper Presentation, Bocconi University, Milan: